 | One Money, Many Markets: Monetary Transmission and Housing Financing in the Euro Area Author/Editor: Giancarlo Corsetti, Joao B Duarte, Samuel Mann. Release Date:June, 2020 We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high-frequency identification. We develop a methodology to assess the degree of heterogeneity, more...
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 | Debt Seniority and Sovereign Debt Crises Author/Editor: Anil Ari, Giancarlo Corsetti, Luca Dedola. Release Date:May, 2018 Is the seniority structure of sovereign debt neutral for a government's decision between defaulting and raising surpluses? In this paper, we address this question using a model of debt crises where a more...
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 | Sovereign Risk and Belief-Driven Fluctuations in the Euro Area Author/Editor: Giancarlo Corsetti, Keith Kuester, André Meier, Gernot J Mueller. Release Date:November, 2013 Sovereign risk premia in several euro area countries have risen markedly since 2008, driving up credit spreads in the private sector as well. We propose a New Keynesian model of a two-region monetary more...
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 | What Determines Government Spending Multipliers? Author/Editor: Giancarlo Corsetti, André Meier, Gernot Müller. Release Date:June, 2012 This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule more...
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 | Sovereign Risk, Fiscal Policy, and Macroeconomic Stability Author/Editor: Giancarlo Corsetti, Keith Kuester, André Meier, Gernot J. Mueller. Release Date:January, 2012 This paper analyzes the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy. Using a variant of the model by Curdia and Woodford (2009), we study a more...
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 | Fiscal Stimulus with Spending Reversals Author/Editor: Gernot M Release Date:WP.jpg
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